Retail in Asia

In Shops

Consumers embrace the sharing economy

Trust, convenience and a sense of community are driving the sharing economy, in which renting and borrowing replace ownership, a PwC report says.

Five key sectors – travel, car sharing, finance, staffing, and music and video streaming – have the potential to increase global revenue in the sharing economy to USD335 billion by 2025 from roughly USD15 billion today.

The new business model lets individuals or companies make money from spare capacity or underused assets, says the recent PwC Consumer Intelligence Series report entitled "The Sharing Economy".

(Source: Bangkok Post)